PHILADELPHIA, April 15, 2020 (GLOBE NEWSWIRE) -- Kehoe Law Firm, P.C. is investigating potential securities and breach of fiduciary duty claims on behalf of investors that purchased Sterling Bancorp, Inc. (“Sterling Bancorp” or the “Company”) (NASDAQ: SBT) common stock: (a) pursuant and/or traceable to the Company’s initial public offering (“IPO”) that commenced on or about November 17, 2017 and/or (b) between November 17, 2017 and December 8, 2019, both dates inclusive (the “Class Period”).
On February 26, 2020, a class action lawsuit was filed against Sterling Bancorp, Inc. in United States District Court, Eastern District of Michigan, seeking to recover damages for SBT shareholders pursuant to §10(b) and §20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, as well as alleging claims under §§11, 12(a)(2) and 15 of the Securities Act of 1933.
According to the lawsuit, during the Class Period and in connection with the Company’s IPO, the Sterling Bancorp Defendants made untrue statements of material fact and failed to disclose material facts concerning, among other things, Sterling Bancorp’s loan underwriting, risk management and internal controls, including repeatedly touting its strict underwriting, asset quality and the Advantage Loan Program.
Sterling Bancorp investors that purchased Sterling Bancorp, Inc. common stock: (a) pursuant and/or traceable to SBT’s IPO that commenced on or about November 17, 2017 and/or (b) between November 17, 2017 and December 8, 2019, both dates inclusive, are encouraged to contact either Kevin Cauley, (215) 792-6676, Ext. 802, kcauley@kehoelawfirm.com, Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, myarnoff@kehoelawfirm.com, info@kehoelawfirm.com, John Kehoe, Esq., (215) 792-6676, Ext. 801, jkehoe@kehoelawfirm.com, to discuss the class action lawsuit or potential legal claims.
Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.
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